Past V1

I wonder since we gave up our listing so easily...are we preparing to get bought by some other carrier? Even Mesa, if I remember correctly, fought to stay listed. Thoughts?

Stock in Memphis-based Pinnacle Airlines Corp. will be delisted from the NASDAQ stock market starting at the opening on business Wednesday, April 11.

The decision by NASDAQ staff at the end of the business day Friday follows Pinnacle’s filing Sunday, April 1, for chapter 11 federal bankruptcy reorganization.

And Pinnacle executives will not appeal the NASDAQ delisting according to a Pinnacle filing Friday with the Securities and Exchange Commission.

“Given these continued listing requirements, the early status of the Chapter 11 cases and the demands the Chapter 11 cases have posed on the company’s resources, the company does not plan to appeal the NASDAQ staff’s determination to delist the company’s common stock,” the Pinnacle statement reads.

With the April 11 suspension from NASDAQ listings, Pinnacle executives have said the company’s stock can be traded only on pink sheets – a pink notice that indicates the company does not trade on NASDAQ.

Pinnacle could apply to trade its stock on the Over the Counter Bulletin Board, (OTCBB) another option for companies delisted. That could happen in May when Pinnacle executives have said they plan to release annual reports and figures that would make the regional air carrier current in its SEC reporting obligations.

Over the counter trading is among individuals connected by computer or telephone without the regulations of a major stock exchange.

“There is no assurance that any market maker will decide to quote the company’s stock at all,” the Pinnacle statement to the SEC reads. “And there is no assurance that the company’s common stock will become eligible to trade on the OTCBB.

vtx531

It's human nature to keep hoping that something good is going to happen out of this and it won't be so bad. If you look at the facts and look at it from an outside perspective, this place is done and we are hosed.

1. Denial
2. Anger
3. Bargaining
4. Depression
5. Acceptance

I think you may be at #3

Wingtips

yawn, same for AMR. No news here, welcome to the suck. Next they will come to you with some crazy offer that will make you want to slap an infant.

Red97Vette

lol. That's a new one for me.

ConnectionPilot

would I be surprised if we got bought? Not at all. Delta? maybe. Buy a carrier for 100-200 million, turn around and sell it in 2-3 years for a billion dollars? Yea I'd do it if I was Delta.

xj200capt

Yep,
Wait until the first term sheets come out. That's when you'll really feel the love. Plus the anxiety attacks, heart burn, sleepless nights. Going to be get real interesting...

CrippleHawk

Mesa stocks delisted shortly after filing Chapter 11 in 2010. They are now a privately held company. They no longer have any stocks

jayray

We are essentially owned by Delta now anyway. Doesn't our contract say that we have to merge seniority lists if we are bought by another carrier? ALPA is here to save the day though - they are going to get us preferential hiring at another airline. That way we can all start over at the bottom of another regional, make year one pay all over again, have one week of vacation after working for slave wages for a full year and then go through BK again with another contract carrier. Instead of picketing Pinnacle Corp we need to picket ALPA national with signs that say, "We want a national seniority list" or "Help us strike down the RLA" or "What is your stance on Major airline scope?"

Elusive Napkin

Don't count on that..


Signed,


The ExpressJet pilots

PinnacleFO

If we were to be purchased, it would probably be on july 1, start of the new fiscal year